March 2, 2017

Why Wholesaling Your Boat Makes Sense: The Truth Behind Carrying Costs

Why Wholesaling Your Boat Makes Sense

Why Wholesaling Your Boat Makes Sense: The Truth Behind Carrying Costs

The weather is starting to cool down and you are considering selling your boat now or holding on until spring in hopes of more money. Let us be the first to tell you, wholesaling your boat may seem like a tough option at face value, but after considering ALL expenses associated with waiting until spring…you will see that cash in hand is a much better option.

1. Cost of Winterization

Preparing your boat for the winter can single-handedly destroy those extra dollars you were hoping for in the spring. A great deal of work goes into protecting your boat from the extremely cold weather. This includes tasks like flushing the engine, draining the water system, cleaning/detailing the boat, shrink wrapping, and more. By the time you’re done, you have easily gone through a couple thousand dollars. This is just the first part of the price of keeping your boat through winter.

2. Carrying Costs

Once you have cleaned out and shrink wrapped your boat, you have to pay the costs of physically keeping it. The cost of storage isn’t the only thing you have to worry about. Even though you’re not using the boat over the winter months, you still have monthly payments, insurance, taxes, etc. There will always be some sort of maintenance that needs to be done as well, and since you have a boat, you know that’s never cheap. Selling your boat during or even before the winter months come is the best option.

3. Value Depreciation

You may think that wholesaling your boat in the winter won’t give you the best deal. It’s easy to assume that if you wait it out until the warm spring months, you’ll sell your boat for a higher price. The reality is that once you carry your boat into the new year, the value depreciates greatly. Your boat is now considered a full year older, and potential buyers will not want to pay nearly as much. After you have paid all that money to keep your boat over the cold months, you will then sell it for a lower price than you want. If you wholesale beforehand, you can avoid this dissatisfaction.

4. Hassle of Listing

You may have decided now that you want to sell your boat before winter. If you’re still thinking that wholesaling isn’t what you want, think about the hassle of listing your boat on your own. You have to create a good listing only for people to contact you wasting your time and make you hold free sea trials and go through the trouble with the boat’s finances. Then you’ll think you should get a broker to list it for you…That takes the time and troubles off your hands, but then the broker takes 10% of the sale.

5. Missed Opportunities

Imagine that you decide to keep your boat in the winter. You pay for all the expenses necessary to winterize, store, and then detail your boat before spring. Once spring comes around, you see your dream boat on the market. Instead of going out and getting that dream boat, you now have to find a way to sell your current boat first and then end up with less cash in your pocket than you were hoping for. At the end of the day, it’s clear that wholesaling your boat before winter will give you the cash you want and save your time, and we can do that for you. You can contact us here or submit your boat here today!

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